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EU pledges €150 billion infrastructural fund to Nigeria, others by 2027

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The European Union (EU) has announced its commitment to allocate 150 billion Euros by 2027 as part of its Global Gateway Initiative.

This initiative aims to bolster infrastructure across more than eight sectors in Nigeria and various other African nations.

The EU Commissioner for International Partnerships, Jutta Urpilainen, made this known during the launch of the Global Gateway initiative on Thursday in Abuja.

According to Urpilainen, the Global Gateway initiative revolves around augmenting connectivity, advancing sustainable development, and fortifying economic linkages between the EU and its partner nations, Nigeria included.

She stated that the EU’s initiative aimed to bolster Nigeria’s infrastructure connectivity, spanning transport, energy, and digital networks, while also providing support for agriculture, economic growth, health, and education.

Furthermore, Urpilainen emphasized the EU’s dedication to aiding Nigeria’s 5G expansion, with a focus on strengthening the country’s digital economy.

Simultaneously, discussions are ongoing regarding a potential loan to support Small and Medium Enterprises (SMEs) operating in the digital and print sectors.

In addition, she emphasized that the EU has dedicated financial support to enhance the energy sector, which includes the creation of small-scale grids and modest hydroelectric power stations, catering to both public needs and productivity.

She pointed out that the EU has allocated financial assistance to strengthen the energy sector, involving the setup of mini grids and small-scale hydroelectric plants to serve public and productive needs.

Speaking further, Urpilainen said that education is the most transformative investment anyone could make so an empowerment project is being launched in Northwestern Nigeria in cooperation with government to promote quality basic education in the northern regions.

She said Nigeria is also a major beneficiary of the student mobility and higher education cooperation project under Erasmus+ with more than 2,020 students from Nigeria granted scholarships for studying in the EU in 2022.

The EU is committed to a long-term partnership with Nigeria under the Global Gateway to achieve shared goals and objectives.

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